Volocopter Files for Provisional Insolvency in Germany

Volocopter, a prominent eVTOL air taxi startup founded in 2011, has filed for provisional insolvency in Germany due to financial difficulties and inability to secure further investment. The application was submitted on December 26, 2024, as the company struggles amid a challenging environment for the eVTOL sector, which is experiencing significant turbulence similar to the dotcom bubble collapse. CEO Dirk Hoke emphasized that Volocopter remains ahead in technological and certification progress, aiming to attract new investors during the restructuring process. Despite its past successes in fundraising, including €112 million in investments, the company's high development costs and regulatory challenges have strained its resources. The provisional administrator, Tobias Wahl, is tasked with finding viable financing solutions to facilitate the company's market entry by February. As Volocopter continues operations during the insolvency proceedings, its future hangs in the balance alongside the broader eVTOL industry in Europe.